Dogecoin is another digital currency in the meme coins category. Observing the rise in price and trading volume of this digital currency, more and more people were attracted to meme coins. Therefore, more teams tried to create more meme coins, which eventually led to the release of Baby Dog Coin. You may be wondering what Baby Dogecoin is and how it differs from Dogecoin. Baby Dogecoin is a digital currency released and developed by imitating the main Dogecoin. You can buy and sell this digital asset on various exchanges. In the rest of this article, we will explain what Baby Dog Coin  is and introduce you to this digital currency.

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What is Baby Dogecoin currency?

The Baby Dogecoin digital currency was first launched in 2021, exactly 8 years after Dogecoin was launched. This digital asset is in the meme coin category as its symbol is derived from a Japanese dog. In general, assets whose symbol is derived from something earthly and for which there is no very specific purpose behind their creation are called meme coins. If you want to know more about digital currencies, read the article on the difference between Shetcoin, Altcoin and Memecoin. This digital asset is implemented on the Binance Smart Chain blockchain network because this network has lower fees than Ethereum. On the other hand, this caused the digital currency to be listed on the world’s largest exchange Binance.

This digital currency was created and developed to solve the problems users experience when using Dogecoin. So Baby Dogecoin was launched to develop the Dogecoin digital currency and replace this asset in the cryptocurrency market. Features where Baby Dogecoin excels over its father, Dogecoin, include processing multiple transactions per second, lowering network fees, and rewarding Baby Dogecoin holders. The overall purpose of creating this asset is to encourage people to use digital currencies in their transactions and daily life.

What are the benefits of Baby Dogecoin currency?

Now that you are familiar with this digital asset up to this part of the article, it would be better to tell you about its benefits. Knowing the pros and cons of digital assets makes traders more determined whether or not to buy digital currencies. However, it is better if you have completed at least a digital currency training course before any trading in this market.

anti swelling

Like Bitcoin, the Baby Dogecoin digital currency is anti-inflationary in nature, and anti-inflation means that it has flaming tokens, and after a while, its number dwindles. The total number of Baby Dogecoin digital currency at the time of its release is 420 quadrillion. About 125 quadrillion of this amount was lost in the token burning process and is completely unreachable. After each transaction, 45% of the in-network fees are sent to a wallet that is not accessible to everyone, this is exactly token burning. Therefore, burning Baby Dogecoin tokens is one of the benefits of Baby Dogecoin.

Rewarding Baby Dogecoin holders

Those who have BabyDogCoin in one of their wallets such as Metamask wallet or TrustWallet will be rewarded. According to the framework and algorithm implemented for the Baby Dogecoin digital currency, 5% of each transaction fee is shared between the holders. If you are not familiar with how to hold it, you can read the article about holding digital currency. This amount is automatically sent to people’s wallets after every transaction on this network. The remaining 5% of these will be sent to the liquidity pool of the Dodge Swap exchange to solve the liquidity problem of this exchange.

Read more: Getting to know the liquidity pool

Participation in development

In general, most digital assets allow their holders to comment on the various and important issues of that digital asset. Baby Dogecoin is no exception and those who own this digital asset are allowed to participate in this project’s surveys.

Increase the speed of transactions

As we mentioned at the beginning of our What is Baby Dogecoin article, this asset was created and developed to solve the problems of Dogecoin. The generation time of each block on the Dogecoin blockchain is equal to 60 seconds as it is implemented on the Ethereum blockchain. However, on the Baby Dogecoin blockchain, this value has been reduced to 5 seconds as it was launched on the Binance Smart Chain blockchain. Therefore, Baby Dogecoin’s transaction speed is much higher than Dogecoin, and it can process more transactions in one second. Also, the blockchain network fee is much lower than Dogecoin and some other memecoins. All of these worked hand in hand to encourage traders to use this digital asset.

What are the disadvantages of Baby Dogecoin currency?

After getting familiar with the advantages of Baby Dogecoin, it’s worth taking a look at its disadvantages. Because knowing its disadvantages helps traders to be more careful when investing in this digital asset. As you know, memecoins and hashcoins are almost the same in structure, but some also have a white paper. Having the whitepaper gives traders confidence that the digital asset in question was created with a purpose and the team behind it has a plan for the years to come. But some traders don’t mind such projects. Even though the future of Baby Dogecoin was revealed to some extent in the whitepaper, some people do not trust this asset. Because buying and selling such assets is considered wrong and a waste of capital.

Also, a large number of meme coins and hash coins were launched in the cryptocurrency market, causing many to lose their capital. Another advantage of this digital asset is its low value and price of Baby Dogecoin.

Read more: Get Shiba for free

Baby Dogecoin price

The digital currency at the time of publication of Baby Dogecoin was $0.000000004. This is such a small value that people can easily buy millions of Baby Dogecoins for just one dollar. Of course, it goes without saying that almost one of the versions of this digital asset has passed and there is a possibility of increasing the price of Baby Dogecoin in the future. A few months later, this digital asset reached a value of $0.00000006. This digital asset, like other cryptocurrencies in the digital money market, has undergone a transformation due to Bitcoin falling to the $20,000 valley. Currently, Baby Dogecoin price is $0.0000000018. But this digital asset is likely to become as valuable as the main Dogecoin. Because Dogecoin was in the same situation at the time of its publication and had a very low value.

Currently, Dogecoin price is equal to 0.083548 USD and may reach this amount in the future. The price of Dogecoin may rise in the future because it has a token burn feature. Burning the Baby Dogcoin coin will reduce the number of coins available and its value will likely increase as the number decreases.

Frequently Asked Questions

How to buy Baby Dogecoin?

The way to buy Baby Dogecoin is to have an account in Iran or one of the currency exchanges. Many exchanges support this digital asset. Exchanges where you can buy Baby Dogecoin digital currency include Coinx, Pancake Swap, UniSwap, DogSwap, etc.

Which is the best Baby Dogecoin wallet?

Baby Dogecoin can be stored in any wallet that supports the Binance Smart Chain blockchain. Wallets where Dogecoin storage is possible include Trust Wallet, Metamask, and Ledger.

Read more: Getting to know Trust Wallet

BabyDogCoin ShatCoin mi?

No, Baby Dog Coin is a digital currency Meme Coin and it has a roadmap and its price may increase in the future.

Should we buy Baby Dogecoin or not?

Whether or not to buy this digital asset is the trader’s own responsibility and monetizing this asset depends on the trading strategy you use.

Solution

Baby Dogecoin digital currency is one of the newest projects in the digital currency market. This digital asset is in the meme coins category, which is among the best digital assets after altcoins. This type of digital asset is usually of low value and a dollar can buy millions of coins. Among the most important meme coins we can mention the Shiba digital currency and Dogecoin. Baby Dogecoin is an asset launched to solve Dogecoin related issues. This digital currency has many more and better advantages than Dogecoin, which we discussed in this article. In this article, we tried to introduce Baby Dogecoin and answer the question of what is Baby Dogecoin.